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Official: Some 108 residents of economic zones registered in Azerbaijan [PHOTO]

30 September 2022 13:29 (UTC+04:00)
Official: Some 108 residents of economic zones registered in Azerbaijan [PHOTO]

By Ayya Lmahamad

A total of 108 residents of economic zones have been registered in Azerbaijan, Economic Zones Development Agency Head Emil Hajiyev said at the event on “Modern methods and technological development of industry: industrial zones and agricultural parks”, Azernews reports.

Noting that 60 residents already started their activities, he added that several more residents of economic zones are expected to start operating this year.

Speaking at the event, he stated that the residents of economic zones manufactured products worth $768 million and exported $320 million in the first half of 2022.

“Totally, over the entire past period, the residents exported products worth over $1.5 billion. Besides, nearly 15 percent of manufactured non-oil products fall on economic zones, and their share in total exports is about 35 percent,” he said.

Recalling that two economic zones, the Aghdam Industrial Park and the Araz Valley Economic Zone, were created in the Karabakh region, he stated that to date, they have been completely cleared of mines and the appropriate infrastructure has been created.

“Construction of two 110/35 kV transformers and about 20 less power is expected. Totally, nine residents and two non-residents have been registered in the Aghdam Industrial Park. One resident and one non-resident have been registered in the Araz Valley Economic Zone so far,” he said.

He stated that the geographical location of these economic zones allows for turning Karabakh into a logistics center. In addition, noting that residents of economic zones can benefit from preferential loans, he mentioned that they are issued at a five percent annual rate in the amount of AZN5m ($2.9m) to AZN10m ($5.8m) for up to 10 years.

Benefits package for residents

Emil Hajiyev stated that the agency is preparing a package of benefits for residents of industrial zones in liberated areas.

He noted that the package includes benefits such as reduced tariffs for utilities, credit rates, as well as subsidies.

“Proposals to expand benefits for residents are being worked out. We expect that a number of other incentives will be added to the above benefits,” he said.

State agricultural park

Speaking at the event, Economic Zones Development Agency Amir Mammadov stated that Azerbaijan plans to create a state agricultural park. In this regard, he noted that a pilot project on the creation of an agricultural park, which will be located in Yevlakh, has already been created.

“Thus, for example, in order to support low-income families, it's planned to provide 60 hectares of land to 60 low-income families to create a garden,” he said.

He added that the agricultural park will be built on the basis of modern smart technologies.

“It's also planned to create the necessary infrastructure for the development of agritourism on its territory,” he said.

Local demand for wheat

Azerbaijan’s annual demand for wheat constitutes nearly 1.2 million tons, Amir Mammadov said.

He noted that local wheat production satisfied around 25 percent of the country’s needs, adding that Azerbaijan imports 1-1.1 million tons of wheat every year.

“In our opinion, after launching wheat production in liberated Karabakh, local production will be able to cover up to half of the demand for it, thereby reducing wheat imports,” he said.

To note, with the joint organization of the Economic Zones Development Agency and the Media Development Agency, training was organized for media representatives on the “Modern methods and technological development of industry: industrial zones and agricultural parks” topic.

Azerbaijan has five industrial zones, with the primary goal of ensuring the long-term development of the non-oil sector, creating and expanding new production areas in the country through the use of innovative technologies, and expanding the export map of these products.

The establishment of industrial parks is one of the areas with high potential for innovative economic development. Decrees were signed to establish the Aghdam Industrial Park (May 28, 2021) and the Araz Valley Economic Zone (October 4, 2021) in Azerbaijan's liberated territories.

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Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad

Follow us on Twitter @AzerNewsAz

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Official: Some 108 residents of economic zones registered in Azerbaijan [PHOTO] - Gallery Image
Official: Some 108 residents of economic zones registered in Azerbaijan [PHOTO] - Gallery Image
Official: Some 108 residents of economic zones registered in Azerbaijan [PHOTO] - Gallery Image
Official: Some 108 residents of economic zones registered in Azerbaijan [PHOTO] - Gallery Image
Official: Some 108 residents of economic zones registered in Azerbaijan [PHOTO] - Gallery Image
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